The American president Donald Trump has boosted the value of his official crypto ($TRUMP)

This direct promotion of an asset held 80% by his affiliated companies raises significant ethical and constitutional questions.

American president Donald Trump has boosted the value of his official crypto after publicly endorsing it on social media. This direct promotion of an asset held 80% by his affiliated companies raises significant ethical and constitutional questions.

The $TRUMP crypto rises after the president’s support

On Sunday morning, Donald Trump praised the $TRUMP token on his social network TruthSocial. At 10:33 AM Eastern time, he sent a message: “I LOVE $TRUMP! So cool! The best of all!!!!!!!!!!!!!“

This statement was followed by a strong reaction on the market, pushing the token price above $12.25.

The crypto, based on the Solana blockchain, saw a 7.7% increase over the day, reaching $11.67, according to CoinGecko data. However, despite this rise, the token remains down 84% from its all-time high of $73.4 set at its launch in January.

As the crypto head at GCash, Luis Buenaventura, told Decrypt, this price evolution reflects limited market enthusiasm for this token, although investors see its potential to generate short-term profits.

Major ethical and constitutional concerns

This direct presidential support for a crypto asset in which he indirectly holds a significant stake raises serious ethical questions. According to the project’s official documentation, the president’s affiliated companies, CIC Digital LLC and Fight Fight Fight LLC, collectively control 80% of the total token supply.

Highlighting this point, Andrew Rossow, a lawyer specializing in digital media, identified three major constitutional issues related to this situation:

This initiative is part of a broader strategy by President Trump, who promised during his campaign to make the United States a global leader in crypto. His plans include the establishment of a strategic bitcoin reserve and a reform of American monetary policy.

Earlier this month, World Liberty Financial, another decentralized financial project linked to the Trump family, generated nearly $390 million in revenue through its second series of token sales.

Representatives of President Trump did not immediately respond to requests for comment on these matters. Meanwhile, the U.S. Congress is preparing the MEME Act aimed at prohibiting political officials from issuing or promoting cryptos.

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